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BRIDGING
LOANS
Propifi are here to assist companies and individuals with short term financing until permanent financing is secured.
Before the credit crunch in 2008 bridging finance was only offered by a small number of specialist lenders.
As mainstream banks tightened up their lending criteria, a gap in the market developed to assist those homeowners and landlords looking for short-term finance. Bridging provided quick access to finance for those wishing to buy a new property before completing the sale of an existing one. Bridging finance has now evolved to provide property developers a similar advantage.
The UK bridging market is currently worth £4.5bn, a large proportion of this relates to property developers looking to progress developments with bridging finance.
What can a Bridging Loan be used for?
A bridging loan can be used for many things including:
- Purchase Commercial properties
- Purchase land for development
- Purchase Buy to Let residential properties
- Purchase properties in need of repair
- Purchase another property whilst pending a sale
- Equity release to develop a property
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